Florida Real Estate Practice Exam

What does the term 'caveat emptor' mean?

1. Seller beware

2. Buyer aware

3. Buyer beware

4. Legal caution

The correct answer is: Buyer beware

'Caveat emptor' is a Latin phrase that means 'let the buyer beware'. It is a warning to buyers that they are responsible for making sure that the products or services they purchase are of good quality and worth the price. This includes doing research on the product or service, asking questions, and carefully reading any contracts or agreements before making a purchase. This phrase emphasizes the importance of being cautious and informed as a buyer. Options A, B, and D are incorrect because they do not accurately reflect the meaning of 'caveat emptor' and may lead to confusion or misunderstanding. Option A, 'seller beware', is incorrect because it puts the responsibility on the seller rather than the buyer. Option B, 'buyer aware', is incorrect because it is not a common phrase and does not accurately convey the meaning of 'caveat emptor'. Option D, 'legal caution', is